Owning a home is part of the American Dream. But, do you really know how much work goes into preparing for the home buying process? You need a stable job, a reliable source of income, and you should be able to handle a homeowner’s responsibilities. If you think you’re ready to find your very first home, you are in the perfect place! The current market is very competitive which makes it the best time for first time home buyers to jump in and find a perfect home.
With the capacity of today’s market, purchasing a home has become very competitive and as the area grows, the market will only become more and more competitive. In a competitive market like this one, things like multiple bids on one home are fairly common. That may sound like a drawback, but with the right realtor to guide you, you can get your dream home in no time!
Buying a home must be taken seriously, and before you dive in you need to consider all of the possibilities. Owning a home is much different from renting. You cannot just call someone if there is a problem with the water heater or if there is a leak on the roof. You will be the one to find solutions to these problems. However, if you own your own home, the possibilities are limitless. You are free to design it according to your taste, needs, and comfort. Your new home is a start of new memories.
Finding a realtor is easy, but finding the perfect realtor for you can be challenging. KP Real Estate Team is here to help buyers find and purchase their desired property. We believe that good service includes honesty and transparency towards clients and putting their best interest on top of our priority. So, here are a few things to consider before you start the process:
It is truly necessary to make sure you are ready before you buy a home. If you are not sure, take the time to clean up your finances, and to know as much as you can about the real estate process in buying a home or a property.
Buying a property can be tricky. Here is a 2-minute video to give you a better understanding of the real estate home buying process.
Securing your finances is one of the first steps in buying a home. Getting preapproved by a lender requires an amount of work. This is necessary in order for you to know your budget and find a home that suits your family’s needs. The best realtor usually works with a lender to inform you of the best deals for first-time home buyers.
In a competitive market, your pre-approval letter and knowledge of what you can afford can make the purchase process easier. Often times, the buyer that is the most organized and ready is the one that gets the home!
One of the most important things that could affect your chances of getting your dream house is your debt-to-income ratio. This is what you owe versus what you make. Normally, lenders are going to take a closer look at this, and they would prefer to see your debt ratio lower than 40% of your income. Your housing debts should account for less than 32% of your income. Any good realtor and lender will tell you that home ownership should not be a financial burden. If you want a house, they will help you get one, but everyone should be certain that it is a home that you will be able to keep for long in terms of financing.
Would you prefer a condo or a single-family home? Would you like a farm for your horses? Do you think of a specific community you would like to call home? Knowing the community where you would like to live will help you to narrow down the types of homes that you are looking for.
One of the challenges in buying your first home is finding the best realtor to help you with your needs. In the current competitive market, you need a real estate agent with a right team that uses all of the tools and technological advances available to them to ensure that you get your dream home!
A great agent works with his team to help the home buyer. Home buying may not be a simple process, and it can also become an emotional one. We are here to take the frustration out of the process for you. We do our best to help prepare clients for any issues that might come up in the home buying process. We help find the perfect first home that suits your budget and comfort of your family.
In making an offer, we will go over the necessary things to get the property that you want, and though it can be a tough process, it will be one that we will make as easy for you as possible. There are a number of strategies that can be used when making an offer. Our clients will be in on these things to give them a competing chance to get the home that they want. It doesn’t matter whether they are paying cash or just have a pre-approval letter in hand. We are here to help, no matter what the situation is.
As the buying process continues, and our offer has been accepted, it is now time to get the home inspected. Home Inspection is important for your protection. We get the home inspected in order to examine it inside and out before you decide to proceed with the purchase. A home inspection will give us a great insight to any problems in the home, which will allow us to either re-negotiate the price or to ensure that the seller will fix any issues of the home before you take possession. Understanding the home’s inspection will give you an idea of how you will protect your home in the future. We have a network of good home inspectors that we work with that that can help us inspect and examine your dream home.
Right before the final contract gets signed and closed, the buyer must go through the final walkthrough. This is where the buyer visits the home one last time to make sure everything is in order and ready for their purchase. Final Walkthrough is optional but is highly recommended.
Buying a home or a property does not need to be difficult. We are here to help you with any questions you may have and offer our service as you need it. The best part of being a buyer is that you do not pay any commission to your realtor. Our team is here to assist you with finding a home to getting through the entire home buying process for absolutely free.